“Pari passu” is a Latin term that means “equal footing” or “at an equal pace.” In various contexts, it signifies the equal treatment of different parties or classes of securities. For instance, in finance and law, it’s often used to describe the equal treatment of creditors or investors in terms of their respective rights, privileges, or claims to assets or repayment. This principle ensures that all parties are treated fairly and equally in accordance with their interests or claims.